Business, 13.04.2021 03:20 sibr4566

In each of the following cases, certain qualifying education expenses were paid during the tax year for individuals who were the taxpayer, spouse, or dependent. The taxpayer has a tax liability and no other credits. Required: Determine the amount of the American opportunity tax credit (AOTC) and/or the lifetime learning credit that should be taken in each instance. 1. A single individual with modified AGI of $32,900 and expenses of $3,400 for a child who is a full-time college freshman,
2. A single individual with modified AGI of $44,500 and expenses of $3,800 for child who is a full-time college junior
3. A couple, married filing jointly, with modified AGI of $79,300 and expenses of $8,000 for a child who is a full-time graduate student.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 09:30

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?

Answers: 1

Answer

Business, 22.06.2019 20:10

As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits

Answers: 3

Answer

Business, 22.06.2019 20:50

You are bearish on telecom and decide to sell short 100 shares at the current market price of $50 per share. a. how much in cash or securities must you put into your brokerage account if the broker’s initial margin requirement is 50% of the value of the short position? b. how high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position? (input the amount as a positive value. round your answer to 2 decimal places.)

Answers: 3

Answer

Business, 22.06.2019 21:20

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Answers: 1

Answer

You know the right answer?

In each of the following cases, certain qualifying education expenses were paid during the tax year...

Questions